Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

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SK Chemicals' Timely Spinoff Announcement Amid Metrica's Activist Move: What to Make of It

SK Bioscience: Stock Price Up 393% Since IPO & 6 Months Lockup Period Ending in 1 Month

End of the 1 Month Lockup Period for Krafton & An Excessive Pricing Gap Vs. NCsoft

KOSPI 200 September Rebalancing Results & Passive Impact Estimations

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Below are KOSPI stocks that will see lockup releases in September. Four of these stocks have recently gone public.<table class="table table-striped">
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<td data-sheets-value='{"1":2,"2":"Name"}'>Name</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ticker"}'>Ticker</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Share type"}'>Share type</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Release date"}'>Release date</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Release volume"}'>Release volume</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"% of SO"}'>% of SO</td>
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<td data-sheets-value='{"1":2,"2":"Ottogi Corp"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>Ottogi Corp</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"007310"}' data-sheets-formula='="007310"'>007310</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44464}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 25</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":66744}' data-sheets-numberformat='[null,2,"#,##0",1]'>66,744</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.018176564639087185}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>1.82%</td>
</tr>
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<td data-sheets-value='{"1":2,"2":"Ajusteel Co Ltd"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>Ajusteel</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"139990"}' data-sheets-formula='="139990"'>139990</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44459}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 20</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2507518}' data-sheets-numberformat='[null,2,"#,##0",1]' data-sheets-formula="=sum('139990'!R[12]C[0]:R[18]C[0])+'139990'!R[24]C[0]">2,507,518</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.09479434764359199}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>9.48%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Y2 Solution Co Ltd"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>Y2 Solution</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"011690"}' data-sheets-formula='="011690"'>011690</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44458}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 19</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":59000000}' data-sheets-numberformat='[null,2,"#,##0",1]'>59,000,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.40071820384082696}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>40.07%</td>
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<td data-sheets-value='{"1":2,"2":"SK Bioscience Co Ltd"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>SK Bioscience</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"302440"}' data-sheets-formula='="302440"'>302440</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44457}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 18</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":56298100}' data-sheets-numberformat='[null,2,"#,##0",1]' data-sheets-formula="='302440'!R[4]C[0]+'302440'!R[8]C[0]">56,298,100</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.7359228758169934}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>73.59%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Krafton Inc"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>Krafton</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"259960"}' data-sheets-formula='="259960"'>259960</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44449}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 10</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2137478}' data-sheets-numberformat='[null,2,"#,##0",1]' data-sheets-formula="=sum('259960'!R[18]C[0]:R[19]C[0])+'259960'!R[25]C[0]">2,137,478</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0436652687167866}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>4.37%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Krafton Inc"}' data-sheets-formula='=googlefinance(R[0]C[1], "name")'>Krafton</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"259960"}' data-sheets-formula='="259960"'>259960</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44448}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 09</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":90000}' data-sheets-numberformat='[null,2,"#,##0",1]'>90,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0018385565533356573}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>0.18%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Kakao Bank"}'>Kakao Bank</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"323410"}' data-sheets-formula='="323410"'>323410</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Ordinary"}'>Ordinary</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44445}' data-sheets-numberformat='[null,5,"yyyy. mm. dd",1]'>2021. 09. 06</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":3141600}' data-sheets-numberformat='[null,2,"#,##0",1]' data-sheets-formula="='323410'!R[13]C[0]">3,141,600</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.006612499332430348}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}' data-sheets-formula='=R[0]C[-1]/googlefinance(R[0]C[-4], "shares")'>0.66%</td>
</tr>
<tr><td colspan="6" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX KIND"}'>Source: KRX KIND</td></tr>
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</table><hr><div class="content-highlight">In the DETAIL section below, let's take a look at the flow of the 4 recently listed stocks this month one by one.</div>

Below are KOSPI stocks that will see lockup releases in September. Four of these stocks have recently gone public.










Name
Ticker
Share type
Release date
Release volume
% of SO


Ottogi Corp
007310
Ordinary
2021. 09. 25
66,744
1.82%


Ajusteel
139990
Ordinary
2021. 09. 20
2,507,518
9.48%


Y2 Solution
011690
Ordinary
2021. 09. 19
59,000,000
40.07%


SK Bioscience
302440
Ordinary
2021. 09. 18
56,298,100
73.59%


Krafton
259960
Ordinary
2021. 09. 10
2,137,478
4.37%


Krafton
259960
Ordinary
2021. 09. 09
90,000
0.18%


Kakao Bank
323410
Ordinary
2021. 09. 06
3,141,600
0.66%

Source: KRX KIND

In the DETAIL section below, let's take a look at the flow of the 4 recently listed stocks this month one by one.

September Lockup Releases on KOSPI: Looking at Each Stock's Flow Situation